Vedanta, the asset 'ragbag' of the mining world
A less-than-favourable description of mining giant Vedanta in today's Financial Times may offer a useful explanation as to why it is one of the morning's biggest fallers.
A less-than-favourable description of mining giant Vedanta in today's Financial Times may offer a useful explanation as to why it is one of the morning's biggest fallers.
The FT described the stock as "a ragbag of assets, funded by a lot of debt and not a lot of their own equity," in its explanation of why the firm has continued its "dogged pursuit" of oil firm Cairn India.
The stock has lost 50% on its share price over the past year, equivalent to a whopping 1,060p.
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At 12:50PM the share price stood at 1,083p, for a loss of 2.52%.
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